Air Canada reports first quarter net loss of $143m

Air Canada reported an adjusted net loss of $143m compared to an adjusted net loss of $162m in the first quarter of 2012. On a GAAP basis, Air Canada’s net loss was $260m compared to a net loss of $274m in the same quarter in 2012. First quarter EBITDAR amounted to $145m compared to EBITDAR of $174m in the first quarter of 2012. First quarter 2013 system passenger revenues were $2.527bn, an increase of $3m, on a 1.1 per cent growth in traffic and a 1.1 per cent decline in yield. Passenger revenue per available seat mile (RASM) increased 1.1% from the first quarter of 2012 on a 1.8 point improvement in passenger load factor. Air Canada reported a record passenger load factor of 81.0% for the first quarter of 2013, reflecting an effective approach to capacity management.